The Thai Fund, Inc. Declares a Dividend

The Thai Fund, Inc. (the “Fund”) today declared the following dividend.

RECORD DATE12/21/12

PAYABLE DATE1/31/13

Name of Closed-End Fund

NYSE Ticker

Net Investment

Income

Per Share

Long-Term Capital Gains Per Share

The Thai Fund, Inc.

TTF

$0.165606

$0.248479

For more information call: 1-800-231-2608.

The amount of net investment income to be paid by the Fund is determined
in accordance with federal income tax regulations. It is possible that
all or a portion of the Fund’s fiscal year 2012 dividend may be a return
of capital and that determination cannot yet be made.

The amount of dividends paid by the Fund may vary from time to time.
Past amounts of dividends are no guarantee of future dividend payment
amounts.

The final determination of the source and tax characteristics of all
distributions in 2012 will be made after the end of the year.

Investing involves risk and it is possible to lose money on any
investment in the Fund.

Morgan Stanley Investment Management, together with its investment
advisory affiliates, has over 560 investment professionals around the
world and $331 billion in assets under management or supervision as of
September 30, 2012. MSIM strives to provide outstanding long-term
investment performance, service and a comprehensive suite of investment
management solutions to a diverse client base, which includes
governments, institutions, corporations and individuals worldwide.

Morgan Stanley is a leading global financial services firm providing a
wide range of investment banking, securities, investment management and
wealth management services. The Firm’s employees serve clients worldwide
including corporations, governments, institutions and individuals from
more than 1,200 offices in 43 countries. For further information about
Morgan Stanley, please visit www.morganstanley.com.

This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any state in which such offer, solicitation or sale would
be unlawful under the securities laws of any such state.